Bitcoin Forum

Bloomberg released an official statement denying that Emaar Properties accepts cryptocurrencies.

Blogs and reports have been circulating all over the internet claiming that Emaar Properties is accepting cryptocurrencies as a mode of payment.

“Emaar only accepts payment in government-issued currency, primarily in U.A.E. dirham and U.S. dollar,” the spokesperson from Emaar Properties said.

Read more here: https://www.unblock.news/news/emaar-properties-says-no-to-accepting-cryptos-as-payment

As much as possible we want more companies to accept payments through cryptocurrency. But to the point that there will be people who are going to spread wrong info is doing it the wrong way.

No one is forcing them to accept crypto's because sooner or later we might even see them to take back their statement and will announce that they are willing to accept soon. I'm late on this news and saw a lot of articles said that they are accepting it so at least it's validated now.

Here's one source too: https://cointelegraph.com/news/uaes-largest-real-estate-firm-emaar-denies-reports-that-it-accepts-crypto-bloomberg

That's the reason why I always visit the source whenever I hear such kind of news. I am sure Emaar Properties is not the one whose news broke out about accepting bitcoin and crypto payments. Whenever you hear such news, visit the company website and especially the "press Release" section to make sure that the news is correct. Because such kind of news will always appear in the official press release if it is true! In case of Emaar Properties, it was never true.

https://www.emaar.com/en/press-release-listing

Due to the low integrity of some media houses, it is always better to cross check such news before believing it!

How did the news spread out in the first place? I don't understand why people would release such fake news too. Are they looking to cause something bad for Emaar Properties by saying they're accepting crypto as payment? Sounds like some conspiracy in play.

Many rumors come from incorrect sources and must be verified before post.
Let us be realistic that the real estate investments "I do not mean only Emaar Properties" depends mainly on the principle of trust, as we rarely make agreements with unknown parties.
The use of decentralized cryptocurrencies will have no effect on the real estate market unless there is a kind of centralization and means of payment that depend on trusted parties.

Maybe they doesn't want to support their growth along with bitcoin. Already they are big in the real estate market, adding bitcoin payments gateway will add value to their service rather than declining. In the past it was Expedia that started accepting bitcoin and stopped it just because they didn't gain good revenue through it, now Emaar gets added to the list.

To be fair, it's not only Emaar Properties who don't want to do anything with bitcoins just yet. It's only those small-time real estate agents and individual, private owners of houses that would be willing to sell their houses and properties for bitcoin, not giant realtors and developers such as Emaar Properties. For now, they are concerned for their financial and fiat security rather than accepting a highly speculative and experimental currency that doesn't seem to hold its value steadily even for a few months. Anyway, its really best to read sources on news before spreading it out as it might give out false information that no one really wanted in the first place.

This is what im doing already ever since my trust is gone with these media houses which making sure if those news being posted are real or fake ones and as being
said you can usually find these on their press release.If we cant find any information about such thing then we can already conclude.

Just a question that how these people do still have the face on releasing such fake news?

What's the need of clearly stating that or making a statement that 'they don't accept cryptocurrency'. It's really not a do or die affair. As a company,  they have the every right to accept whichever currency they which to accept or feel like without having to please anyone. Still don't understand why this is making headlines though.

i have no idea how important emaar properties is but what can it contribute to crypto if it does accept cryptocurrencies?

of course we all want to see adoption but i think there were already actions done for it like the Bakkt to make adoption happen. we can just wait for its launche which we have been expecting also since last year.

Bloomberg FAKE NEWS!


https://www.trustnodes.com/wp-content/uploads/2019/02/emaar-bitcoin-eth-payments-email-936x600.png


Dubai’s Property Giant has confirmed they sent an email to their agents which says property purchases can now be paid in bitcoin or eth through Bitcoin Suisse.

The email itself, forwarded to Trustnodes, is titled: “Buy Emaar Properties using Bitcoin and Ethereum.”

That caused some confusion, with Bloomberg stating Emaar had denied plans to accept payments in digital currencies.

https://www.trustnodes.com/2019/02/25/emaar-confirms-email-to-agents-on-bitcoin-and-ethereum

I really dont get it why people keep complaining about this companies who dont accept cyptocurrecies.Why would they accept cryptocurrencies when they know less than 1% of their clients will use them to pay? There is no point in wasting their time with accepting bitcoin because the demand is not that high for them. When people are going to go to a company and ask them if they accept bitcoin, then they are probably going to accept it because they see people actually want to use it but dont have where to do that. But right now dont expect companies,at leass the small ones to accept bitcoin just because they think its cool.

That's why i never believe on random blogs and articles unless they are from an authentic source.
I am not very much surprised of this news because currently cryptos are in recovering phase and I can't expect any positive news from the local market till complete recovery of cryptos in market.

Probably because there was apparently an imposter account that originally made the claim, and I bet that Emaar pusbed for a press release to correct it.

Either way, this isn't big news--in fact, it's not newsworthy at all.  Must be a slow news day at Bloomberg or something, though I don't know how that could be.  And I'm also not familiar with Emaar, what they do and why it would be a big deal even if they did accept bitcoin. 

That is why we should not believe every article. It is inflated to collect the rating. In order not to be deceived we should read from the source and investigate how certain it is.

I do not think that is a bad bet on some UAE company. We are definitely fine without any Arabic investment into bitcoin anyway, oil money should stay in oil and whatever they want, we wouldn't want it to spoil BTC as well by spending billions of dollars all at once.

That is how oil money is always invested, they just find something they are interested in, they are smart enough to know oil will not continue to exist forever and they just put all the oil money they have into some newer stuff like put a billion dollars into some small company because a billion dollars made from oil today is less than the 100 million you will continue to make from that smaller company for decades. I would rather have an endless source of income over a one time big amount as well and Emaar is no different, they made their fortune by selling it to oil barons.

Everyone's excited for when the time will come that cryptocurrency becomes widely accepted by all companies. We really can't expect for many merchant vendors to accept bitcoin all of a sudden. They have to consider first how adding crypto as a payment method may either benefit or harm them. Also, not many people use bitcoin/crypto for spending. Most crypto users either use them for trading or for hodling, but not for spending. Only a number probably do so.

I don't mind if Emaar Properties doesn't want to accepting cryptocurrencies as payment and they have their rights to say that. But they will realize that their decision is wrong and soon, they will follow the other company to accept cryptocurrency. I think they are not learn well about cryptocurrency so they can say like that but I am sure if they can learn for a little information related to cryptocurrency, they will realize that cyrptocurrency is a new things that can gives them another profit especially for their company.

So let them decide and we will see a good news from them because if they see that cryptocurrency can bring a better solution for their business, they will start to use the crypto.

Everyone who deals with cryptocurrency may expect companies to immediately accept bitcoin as a payment tool. But, it seems that the news was published with the aim of stopping the circulation of bitcoin so it is very difficult for companies to be able to accept payments with bitcoin especially the cryptocurrency prices on the market are very speculative.

Frankly speaking it seems like even if this was true I don't see any reason to post it on the website as a separate press release. It could be the same as posting a press release about not accepting Nigerian Naira as a payment or that I don't eat oranges for breakfast. No one cares and it is not directly related to the company's business.

it is still ok, it does not mean that if they dont accepts cryptocurrency as mode of payment today it means that there has no chance that it will happen anymore, it is just clarification that they dont accepts that mode of payment this time.

So supposedly, "they" sent out emails to their agents and now Bloomberg is reporting that they denied it. Doesn't really change much since they aren't directly linked to the cryptoworld. It would have been a nice publicity though since Emaar is a rather large firm (largest real estate in UAE) and the builders of Burj Khalifa no less.

Looks like a bad news but it really wouldn't have much effect on cryptocurrency in general.There are many other establishments that accept cryptocurrency payments and in as much as we want more, we cannot get all.
Probably some time later, they will accept it as a means of payment

Nothing gained, nothing lost. We've had similar fake adoption news before and they really didn't change anything. Even before they were debunked, they didn't really affect prices.

Granted, a high-profile company accepting bitcoins would do much to normalize it in people's view as a payment option.

Did the report really originate from Bloomberg? It seems to have come from this:

https://micky.com.au/developer-of-worlds-tallest-building-now-accepts-bitcoin/

...and the actual original source of the rumor is some random screenshot. Either way, this just shows that both sides can push an agenda with false information. Take everything with a grain of salt.

Well is no longer a new after all the have always been fake information and 60% of the informations on the internet are always fake and base of hear say, and speculations but the fact still remains that more and more venture are now accepting cryptocurrency and mode of payment and that have help increase the coverage of they business.

I dont really get the essence of creating such bad fake news.
Whoever created that e-mail account just so to spread this fake news have a lot of effort in his mind.
He should have just used it in a different way.

The question is why he did it?
To pump crypto currencies or just to put Emaar Properties on a bad position.
I doubt it will be the first one. They may be the competition of Emaar and this is also why it is funded to create this madness.

thank you I read the article from start to finish, The said account was already deleted and unavailable anymore but, luckily CoinGape was able to get a screenshot of its post.  bizarre really, questionable situation?

I really don't understand this kind of anomaly to have happened before considering Bloomberg a reputable platform to be caught in dishing out unsubstantiated news to the general public and they could not do well to have verify it before doing their own publicity on the matter.

Why are people even bother looking for acceptance and confirmation where its none. When its the right time, organisations would engage in rat race on who to accept crypto first. Its only a matter of time.

I don't think we'll find out who did what and what the exact motive is, but that's not even the main point in my opinion. The fact that news outlets blatantly copy and paste anything they can find is what bothers me the most. It's like they only want to get as many articles out in the wild so that they can scoop up a few pennies.

I have seen the quality of the content news outlets come up with decrease to such low levels, that it really surprises me that people still pay attention to them.

My main source of news is mostly Twitter and Reddit, and while these platforms aren't exactly the best ones either, they're far better than anything most news outlets come up with. Twitter and Reddit are usually the first, especially when it comes to foreign events people translate to English.